The Financial Action Task Force (FATF), the global policy/standard setter on anti-money laundering (AML) and countering the financing of terrorism (CFT), with 36 member countries and regional organisations, has determined that Sri Lanka is a country that is compliant with its standards, at its meeting recently.
Sri Lanka could slash its greenhouse gas (GHG) emissions by 19 percent of projected levels in 2020 at little or no long-term cost using an array of green power options, a new study from the Asian Development Bank (ADB) showed.
The Magampura Mahinda Rajapaksa Port is expected to generate turnover of up to Rs. 3.5 billion by the end of this year, according to Chairman Sri Lanka Ports Authority, Dr. Priyath Bandu Wickrama.
Sri Lanka’s largest lubricant industry player Chevron Lubricant Lanka PLC’s (LLUB) new blending plant that is under construction, is expected to produce 20 to 25 percent more lubricants in addition to the firm’s present capacity, a top official of the company said.
A detained consignment of more than 100 Ceylon tea containers valued at US $ 13 million has started arriving to the Iraqi market following bilateral trade actions by Iraqi and Sri Lankan governments.
The state of Sri Lanka’s economy has become the clear major concern for citizens between the ages of 20 and 45 over the next six months, according to the results of a poll conducted by Nielsen Sri Lanka.
The impending wage negotiations for plantation sector workers which are expected by mid-2013, coupled with recently imposed cess on exports of bulk tea, which led to much controversy, are expected to have a negative impact on the tea sector, which managed to show a slight improvement in 2012, according to a head of a leading plantation company.
Sri Lankan stocks fell to a two-month low yesterday led by large caps with local retail investor sentiment hit by both political and economic concerns, but foreign buying boosted turnover.
As the current two-year collective agreement lapses this month, negotiations for another wage increase in the plantation sector are expected to begin soon.
There is no doubt that the overall tourist arrivals to Sri Lanka have shown year-on-year (YOY) growth in the past few years. Almost all hotels are returning healthy revenue, occupancy and profitability figures.
The Port of Hambantota, also known as ‘Magampura’ is situated about 19 nautical miles north of the key shipping route between the Malacca Strait and the Suez Canal, which links Asia and Europe. An estimated 36,000 ships including 4500 oil tankers use this route annually.
Following the conclusion of the capital market road show in Mumbai in February which drew over 150 foreign fund managers, the Colombo Stock Exchange (CSE) is currently planning three more road shows in major commercial hubs in the Asian region.
Full year net profit at Rs.2.9bn; quarter profits at Rs.949mn Recorded highest annual intake of local fresh milk, bringing the company’s total contribution to the rural economy to Rs.4 billion in 2012 Sri Lanka’s Nutrition, Health and Wellness company, Nestlé Lanka PLC, posted a revenue of Rs.7.2 billion for the last quarter of the year.
Free trade zone trade unions warned of dire consequences for apparel sector workers if the government continues deviating investor attention to other sectors.
Last week, we ended the first part of our series ‘From crisis to sustenance’. We spoke about seven new ways to tackle the tough decisions in today’s high pressure business environment and deliver the results your company needs for sustained growth.
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The Ceylon Electricity Board (CEB) has projected an operational loss of Rs.94 billion for the year 2013, which should be ultimately financed by the country’s Treasury, a Colombo-based think tank noted.
We have all been waiting for the female version of the legendary Facebook founder...
Growth in imports of consumer electronics and home appliances in terms of both volume and value slowed down over 2012, as compared with unprecedented high levels of imports in 2011, according to a statistical analysis by the Ceylon Chamber of Commerce (CCC).
The Colombo Stock Exchange (CSE) is expected to see the number of listed companies rising to at least 400 by 2016 from the existing 287.
The Pathfinder Foundation (PF) welcomes the recent adjustment in fuel prices and the anticipated further reforms in the power and energy sector. It has advocated institutional changes, competitive industry structures and PPPs as in the case of the telecom sector.
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